AT&T Inc. (NYSE:T) Expected to Post Quarterly Sales of $41.38 Billion

Wednesday, September 15, 2021 | MarketBeat

Analysts expect AT&T Inc. (NYSE:T) to announce $41.38 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Fifteen analysts have made estimates for AT&T's earnings. The highest sales estimate is $43.66 billion and the lowest is $36.10 billion. AT&T posted sales of $42.34 billion during the same quarter last year, which suggests a negative year over year growth rate of 2.3%. The company is scheduled to issue its next earnings results before the market opens on Thursday, October 21st.

According to Zacks, analysts expect that AT&T will report full-year sales of $171.47 billion for the current year, with estimates ranging from $162.49 billion to $177.54 billion. For the next year, analysts expect that the business will post sales of $175.10 billion, with estimates ranging from $157.03 billion to $179.83 billion. Zacks' sales calculations are a mean average based on a survey of research firms that that provide coverage for AT&T.

AT&T (NYSE:T) last released its earnings results on Wednesday, July 21st. The technology company reported $0.89 earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of $0.79 by $0.10. The company had revenue of $44.05 billion for the quarter, compared to analysts' expectations of $42.39 billion. AT&T had a positive return on equity of 12.78% and a negative net margin of 1.11%. The business's revenue for the quarter was up 7.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 EPS.

T has been the subject of a number of recent research reports. Tigress Financial restated a "buy" rating and issued a $36.00 target price on shares of AT&T in a research note on Friday, July 9th. UBS Group upgraded AT&T from a "neutral" rating to a "buy" rating and increased their target price for the stock from $32.00 to $35.00 in a report on Friday, May 21st. Scotiabank upgraded AT&T from a "sector underperform" rating to a "sector perform" rating and increased their target price for the stock from $28.00 to $31.00 in a report on Wednesday, June 16th. Argus cut AT&T from a "buy" rating to a "hold" rating and set a $28.09 price target on the stock. in a report on Tuesday, July 27th. Finally, Royal Bank of Canada assumed coverage on AT&T in a report on Thursday, July 22nd. They issued a "hold" rating and a $30.00 price target on the stock. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, AT&T has an average rating of "Hold" and a consensus target price of $31.16.

Shares of T stock opened at $27.33 on Wednesday. AT&T has a 12 month low of $26.35 and a 12 month high of $33.88. The firm has a market cap of $195.14 billion, a PE ratio of -88.16, a price-to-earnings-growth ratio of 2.11 and a beta of 0.78. The stock has a 50 day moving average of $27.86 and a 200-day moving average of $29.23. The company has a quick ratio of 0.73, a current ratio of 0.77 and a debt-to-equity ratio of 0.87.

The firm also recently announced a quarterly dividend, which was paid on Monday, August 2nd. Stockholders of record on Friday, July 9th were issued a dividend of $0.52 per share. The ex-dividend date was Thursday, July 8th. This represents a $2.08 annualized dividend and a dividend yield of 7.61%. AT&T's payout ratio is 65.41%.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. grew its position in shares of AT&T by 3.4% during the 2nd quarter. BlackRock Inc. now owns 508,851,017 shares of the technology company's stock valued at $14,644,734,000 after acquiring an additional 16,734,100 shares during the period. Franklin Resources Inc. boosted its holdings in AT&T by 119.8% in the 1st quarter. Franklin Resources Inc. now owns 27,173,122 shares of the technology company's stock worth $822,532,000 after buying an additional 14,811,593 shares during the period. Amundi purchased a new stake in AT&T in the 2nd quarter worth $356,207,000. Renaissance Technologies LLC lifted its stake in AT&T by 536.2% in the 1st quarter. Renaissance Technologies LLC now owns 12,841,586 shares of the technology company's stock worth $388,715,000 after purchasing an additional 10,823,100 shares in the last quarter. Finally, State Street Corp lifted its stake in AT&T by 3.1% in the 2nd quarter. State Street Corp now owns 296,845,308 shares of the technology company's stock worth $8,543,208,000 after purchasing an additional 8,812,329 shares in the last quarter. Institutional investors own 51.61% of the company's stock.

About AT&T

AT&T, Inc is a holding company, which engages in the provision of telecommunications media and technology service. It operates through the following segments: Communications, WarnerMedia, and Latin America. The Communications segment provides services to businesses and consumers located in the U.S., or in U.S.

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